IMF should better represent emerging economies: Lagarde
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| File photo: French Finance Minister Christine Lagarde |
French Finance Minister Christine Lagarde said Thursday that the International Monetary Fund (IMF) should continue deepening its reform and appropriately increase the presence of emerging economies in the organization.
The ongoing IMF reform should be more inclusive and diversified, said Lagarde, France's candidate for the next IMF chief and the country's Minister of Economy, Finance and Industry, at a press conference in Beijing.
During her visit, Lagarde met with Vice Premier Wang Qishan, Foreign Minister Yang Jiechi, Minister of Finance Xie Xuren and central bank governor Zhou Xiaochuan. Lagarde said she was satisfied with her visit to China and confident of her bid to head the IMF.
The legitimacy of the IMF is based on the accurate reflection of proportion of all economies, so it will be one of the priorities to expand the presence of emerging economies in the IMF reform, Lagarde said.
The IMF does not belong to anybody or any country, but to the 187 members of the Fund, said the candidate, adding that the choice of a new IMF chief should be based on openness, transparency and merit.
